A hydrostatic tank floor relief valve of a construction described herein provides for equalization of hydrostatic pressure of fluid in a storage tank with hydrostatic pressure of ground water surrounding the storage tank. A high efficiency grate located in a flow channel of the hydrostatic tank floor relief valve blocks debris from entering the storage tank during pressure equalization, yet does not reduce effective flow rates through a flow channel of a given diameter. The hydrostatic tank floor relief valve optionally includes an elastomeric seal surface and a stainless steel seat ring that reduce the likelihood of particulate matter disrupting valve operation, and provide a more reliable seal.